NetSuite’s 2016.1 is set to go live in the next 6-8 weeks. We’ve had a sneak preview of it and we’re happy to report that there are some awesome new features ready to come your way.
We’ve hand picked four of our favourite game changers to whet your appetite.
1. MULTIPLE REVENUE STREAMS? EASY
If your business is modern, sleek and runs like a well-oiled machine, it’s likely that you’re relying on multiple revenue streams. Typically, this has resulted in messy reports, often lacking that one key component that makes a perfect report – compliance.
All the time we have customers coming to us with revenue generated from product sales, subscriptions, commission, services etc. – all of which require unique ways to report it.
The 2016.1 release allows you to not only view all customer performance obligations in one convenient space, but also individually report the activities the way they should be.
Although the real winner in all this will be your accountant (they will have visibility over all of the different customer sale transactions), you will also have peace of mind knowing that all your financial activity is compliant. And that can be a huge weight lifted off your shoulders.
2. INTELLIGENT ORDER ALLOCATION
Online retailers and eCommerce extraordinaires take note – you’re in for a treat. 2016.1 gives you some wonderful features that will make your business operate smarter and more efficiently.
Probably the best new feature NetSuite have developed for online retailers this time around is the new intelligent order allocation engine, which helps you drive the customer experience through the roof.
You can now set the order fulfillment location priority for all sales orders. NetSuite then applies fulfilment rules, such as location proximity and shortest shipping time, to ensure your customer gets their goods faster than ever before.
Not only is this a ‘hallelujah moment’ for your customers, but it also makes your life a lot easier. No longer will you need to manually trawl through your inventory levels at multiple locations to see what you have in stock. That’s a big tick.
3. FULL INVENTORY VISIBILITY
2016.1 offers you enhanced inventory visibility with the new Stock Ledger report. Drill down into the reports that give you full visibility – from anywhere in the world – of what stock you have on hand at any given time for any given subsidiary.
The Stock Ledger report is a breath of fresh air, in particular when it comes to the end of the month when you need to prepare critical inventory reports that allow you to plan for the future of your business.
4. ELECTRONIC INVOICES
2016.1 delivers you the power to automate the invoicing process by offering electronic invoices.
This is great for a number of reasons –
- You can now comply with country-specific invoicing laws. Some jurisdictions require invoices to be sent via electronic means, or at least give an option to your customers to do so. Not a problem for you any more.
- Decrease processing costs. The system is automated – you don’t have to sit there and click print, wait by the printer to pick up the invoice, run to the store and get some stamps, package the invoice in the envelope and send out. It’s all done for you with NO PAPER.
- Your customers will pay faster. No longer will they need to sit around waiting for the invoice to appear in the mailbox. Their invoices are delivered instantly, prompting them to pay faster.
These are just some of many outstanding new features that will be offered in NetSuite release 2016.1 when it launches over the next 6-8 weeks. To find out more, and to ensure your business can hit the ground running when 2016.1 goes live, contact us today!